Romney Says Corporations Familiar With ‘Low-Tax Havens’ (35)
ooby_dooby: http://www.bloomberg.com/news/2012-08-24/romney-says-corporations-familiar-with-low-tax-havens-.html
What a goddamn hypocrite this guy is! This guy is just about as phony as they come.
Big businesses “know how to find ways to get through the tax code, save money by putting various things in the places where there are low-tax havens around the world for their businesses,” Romney said last night at a fundraising event in Minnetonka Beach, Minnesota. “But small business is getting crushed.”
“Big business is doing fine in many places,” he said. “I’m going to champion small business.”
Sure you are.
Romney’s comments called to mind remarks by President Barack Obama when he said June 8 that “the private sector is doing fine.” Republicans criticized Obama for being out of touch with the difficulty the economy is having recovering from recession.
Even before his comments last night, Romney’s campaign faced a fresh challenge presented by Gawker’s disclosure of the Bain documents. Romney, who has said he paid a tax rate of at least 13 percent over the past decade, also has balked at releasing more than two years of federal tax returns and Democrats have been questioning his refusal to provide the information.
Hey douchbag, I paid 25 percent
The newly released Bain records show that Romney took advantage of investments with the firm that achieved a low tax rate, for example, by engaging in what are known as management- fee conversions or fee waivers.
Bain Capital Fund VII LP disclosed in a 2009 report that the general partner in the fund had in the past waived management fees and converted those fees into an interest in the fund called a “priority profit share.” That had the effect of turning fees that would be taxed at ordinary income rates, as high as 35 percent, into capital gains, taxed at a rate of 15 percent.
Alex Stanton, a Bain spokesman, released a statement that said: “The unauthorized disclosure of a number of confidential fund financial statements is unfortunate. Our fund financials are routinely prepared by auditors and demonstrate a commitment to transparency with our investors and regulators, and compliance with all laws.”
Did that guy Alex Stanton actually use the word transparency?
And there are millions of brain washed people in this country who actually want this thief to become President of the United States. Why that's like putting a fox in your chicken pen to guard your laying hens.
I wonder how much the GOP & superpacs are paying, out of work people these days, to come into social networking sites like CS and 1000's of other sites to pump this faker? Do they pay by the post or by the hour or by the number of responses they get? I guess when people need to put food on the table they'll get into bed with anybody.
What a goddamn hypocrite this guy is! This guy is just about as phony as they come.
Big businesses “know how to find ways to get through the tax code, save money by putting various things in the places where there are low-tax havens around the world for their businesses,” Romney said last night at a fundraising event in Minnetonka Beach, Minnesota. “But small business is getting crushed.”
“Big business is doing fine in many places,” he said. “I’m going to champion small business.”
Sure you are.
Romney’s comments called to mind remarks by President Barack Obama when he said June 8 that “the private sector is doing fine.” Republicans criticized Obama for being out of touch with the difficulty the economy is having recovering from recession.
Even before his comments last night, Romney’s campaign faced a fresh challenge presented by Gawker’s disclosure of the Bain documents. Romney, who has said he paid a tax rate of at least 13 percent over the past decade, also has balked at releasing more than two years of federal tax returns and Democrats have been questioning his refusal to provide the information.
Hey douchbag, I paid 25 percent
The newly released Bain records show that Romney took advantage of investments with the firm that achieved a low tax rate, for example, by engaging in what are known as management- fee conversions or fee waivers.
Bain Capital Fund VII LP disclosed in a 2009 report that the general partner in the fund had in the past waived management fees and converted those fees into an interest in the fund called a “priority profit share.” That had the effect of turning fees that would be taxed at ordinary income rates, as high as 35 percent, into capital gains, taxed at a rate of 15 percent.
Alex Stanton, a Bain spokesman, released a statement that said: “The unauthorized disclosure of a number of confidential fund financial statements is unfortunate. Our fund financials are routinely prepared by auditors and demonstrate a commitment to transparency with our investors and regulators, and compliance with all laws.”
Did that guy Alex Stanton actually use the word transparency?
And there are millions of brain washed people in this country who actually want this thief to become President of the United States. Why that's like putting a fox in your chicken pen to guard your laying hens.
I wonder how much the GOP & superpacs are paying, out of work people these days, to come into social networking sites like CS and 1000's of other sites to pump this faker? Do they pay by the post or by the hour or by the number of responses they get? I guess when people need to put food on the table they'll get into bed with anybody.
What do you think will happen if the Republican will be elected?
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why are you blaming the Guy for making Investments that are in a Lower Taxbracket?
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Is that a assessment notice in your pocket or are you happy to see me?
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I agree, Ooby.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
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Rumple4skin: I agree, Ooby.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
Personally, I consider personal income tax to be totally unconstitutional.
The country survived just fine and even prospered without it for over a hundred years. And the people only accepted it initially because they were told it would only affect the very rich.
I think the country would be a lot better off if the government had a lot less money to play around with.
Back when there was no income tax the US never had a deficit and the US economy was the strongest in the world.
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Rumple4skin: I agree, Ooby.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
Not only hiring legions of unnecessary bureaucrats, but also deliberately keeping poor people poor with free handouts of tax dollars to ensure their vote.
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If the private sector was comprised only of large corporations, Oobie, your outrage would be jutified. But America's private sector includes a substantial portion of small, private entreprenural start-ups. As Romney was accurately stating, these are the ones that are getting crushed by Obama and he was merely saying that he wants to put a stop to that.
Moreover, the proof is in the pudding. And since you aren't the only one who can cut and paste the daily news...here's one that I'm just you "just overlooked..."
Americans' incomes DECLINED MORE IN THE THREE-YEAR EXPANSION THAT STARTED IN 2009 THAN DURING THE LONGEST RECESSION SINCE THE GREAT DEPRESSION, according an analysis of U.S. Census Bureau data by Sentier Research LLC.
Median household income fell 4.8 percent on an inflation-adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.
“ALMOST EVERY GROUP IS WORSE OFF THAN IT WAS THREE YEARS AGO, AND SOME GROUPS HAD VERY LARGE DECLINES IN INCOME,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview Thursday. “We’re in an unprecedented period of economic stagnation.”
Sinply put, Obama has failed.
Read more: Sentier Research: US Incomes Fell More in Recovery Than During Crisis
Moreover, the proof is in the pudding. And since you aren't the only one who can cut and paste the daily news...here's one that I'm just you "just overlooked..."
Americans' incomes DECLINED MORE IN THE THREE-YEAR EXPANSION THAT STARTED IN 2009 THAN DURING THE LONGEST RECESSION SINCE THE GREAT DEPRESSION, according an analysis of U.S. Census Bureau data by Sentier Research LLC.
Median household income fell 4.8 percent on an inflation-adjusted basis since the recession ended in June 2009, more than the 2.6 percent drop during the 18-month contraction, the research firm’s Gordon Green and John Coder wrote in a report today. Household income is 7.2 percent below the December 2007 level, the former Census Bureau economic statisticians wrote.
“ALMOST EVERY GROUP IS WORSE OFF THAN IT WAS THREE YEARS AGO, AND SOME GROUPS HAD VERY LARGE DECLINES IN INCOME,” Green, who previously directed work on the Census Bureau’s income and poverty statistics program, said in a phone interview Thursday. “We’re in an unprecedented period of economic stagnation.”
Sinply put, Obama has failed.
Read more: Sentier Research: US Incomes Fell More in Recovery Than During Crisis
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I forgot to add that despite the fact that he has spent TRILLIONS of dollars of OUR money, and ammassed 72.3 percent more foreign debt in the process....we are all now WORSE OFF off than before he spent the money.
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WhatUwish4: I forgot to add that despite the fact that he has spent TRILLIONS of dollars of OUR money, and ammassed 72.3 percent more foreign debt in the process....we are all now WORSE OFF off than before he spent the money.
Everybody but the top 1%.
Somehow they managed to profit from the bailouts.
Wonder what their trick is?
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RayfromUSA: Everybody but the top 1%.
Somehow they managed to profit from the bailouts.
Wonder what their trick is?
Somehow they managed to profit from the bailouts.
Wonder what their trick is?
I'll have to pull the income statistics for them, but I believe they also have had substantial drops in income. Give me a few minutes to find the article
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Rumple4skin: I agree, Ooby.
The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
hello Mister Keynes!The existence of consumers(Human Beings)depends upon a certain amount of social upkeep which is paid for by tax. The idea that corporations, whom derive all profits from consumers, should be allowed to avoid proper contribution towards this upkeep constitutes theft and rigs the market to the detriment of small business.
Now, correct the err of public spending and allocate funds towards genuine social upkeep, instead of hiring legions of unnecessary bureaucrats.
------ This thread is Archived ------
The road to perdition or the road to recovery?
Its not as simple as an A or B choice. Every partisan in the world would like people to think this is the case. Vote (insert party of choice) and all your problems will be solved.
What they fail to mention is: Nobody has all the answers. Life is too complex and intricate for simple rhetoric to provide real solutions, and you can appoint all the czars/cut all the taxes you want (notice my fair and balanced approach here?) and reality will defy easy solutions every time.
The problem with most Americans is what I call the Pill-popping addiction. You want an easy pill (or policy line) to solve your weight problems (or your economic problems) when the real truth is that our problems are holistic. Our behaviors dictate our weight problems (or our economic ones) and the only solutions are to CHANGE OURSELVES and what we do. Stop feeding the beast. Make sacrifices. Above all: TAKE RESPONSIBILITY!
End of rant. We now return the thread to the same hopeless back and forth that the two party system depends on in dragging our country further into the gutter.
Its not as simple as an A or B choice. Every partisan in the world would like people to think this is the case. Vote (insert party of choice) and all your problems will be solved.
What they fail to mention is: Nobody has all the answers. Life is too complex and intricate for simple rhetoric to provide real solutions, and you can appoint all the czars/cut all the taxes you want (notice my fair and balanced approach here?
) and reality will defy easy solutions every time.The problem with most Americans is what I call the Pill-popping addiction. You want an easy pill (or policy line) to solve your weight problems (or your economic problems) when the real truth is that our problems are holistic. Our behaviors dictate our weight problems (or our economic ones) and the only solutions are to CHANGE OURSELVES and what we do. Stop feeding the beast. Make sacrifices. Above all: TAKE RESPONSIBILITY!
End of rant. We now return the thread to the same hopeless back and forth that the two party system depends on in dragging our country further into the gutter.
------ This thread is Archived ------
RayfromUSA: Everybody but the top 1%.
Somehow they managed to profit from the bailouts.
Wonder what their trick is?
Somehow they managed to profit from the bailouts.
Wonder what their trick is?
Here it is Ray...
The number of millionaires in the US has declined by 39 percent since 2007, and the so-called super rich, Americans making more than $10 million per year, has fallen by 55 percent. Even the liberal New York Times recently admitted that the rich have become poorer since Obama took office.
The most recent data from the IRS reveals that between 2007 and 2009, income of those in the 99th percentile income bracket fell from $410,096 to $343,927. The 99.9th percentile income fell from $2,155,365 to $1,432,890. The top one percent’s income, which mostly climbed throughout the 2000s, has fallen to lower levels than in 2000. The top one percent earned only 16.9 percent of all adjusted gross income last year, down from 20 percent in 2008.
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Galactic_bodhi: The road to perdition or the road to recovery?
Its not as simple as an A or B choice. Every partisan in the world would like people to think this is the case. Vote (insert party of choice) and all your problems will be solved.
What they fail to mention is: Nobody has all the answers. Life is too complex and intricate for simple rhetoric to provide real solutions, and you can appoint all the czars/cut all the taxes you want (notice my fair and balanced approach here? ) and reality will defy easy solutions every time.
The problem with most Americans is what I call the Pill-popping addiction. You want an easy pill (or policy line) to solve your weight problems (or your economic problems) when the real truth is that our problems are holistic. Our behaviors dictate our weight problems (or our economic ones) and the only solutions are to CHANGE OURSELVES and what we do. Stop feeding the beast. Make sacrifices. Above all: TAKE RESPONSIBILITY!
End of rant. We now return the thread to the same hopeless back and forth that the two party system depends on in dragging our country further into the gutter.
Its not as simple as an A or B choice. Every partisan in the world would like people to think this is the case. Vote (insert party of choice) and all your problems will be solved.
What they fail to mention is: Nobody has all the answers. Life is too complex and intricate for simple rhetoric to provide real solutions, and you can appoint all the czars/cut all the taxes you want (notice my fair and balanced approach here? ) and reality will defy easy solutions every time.
The problem with most Americans is what I call the Pill-popping addiction. You want an easy pill (or policy line) to solve your weight problems (or your economic problems) when the real truth is that our problems are holistic. Our behaviors dictate our weight problems (or our economic ones) and the only solutions are to CHANGE OURSELVES and what we do. Stop feeding the beast. Make sacrifices. Above all: TAKE RESPONSIBILITY!
End of rant. We now return the thread to the same hopeless back and forth that the two party system depends on in dragging our country further into the gutter.
I totally agree with you - of for no other reason than the fact that our problems are far too overgrown and out of control to be solved with one president. I think one of the main reasons I really like Romney is that he has real working experience with evaluating problems and streamlining operations in order to make companies work more efficiently.
I would love to see him work his magic on the Federal Government, cause if there was ever a entity that needed stream-lining and re-organization, it's that one.
Anyway, maybe if we can chop it down to size and start hacking away a the waste and inefficiencies, maybe we can begin to focus more on the other problems that dog us.
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RayfromUSA: Personally, I consider personal income tax to be totally unconstitutional.
The country survived just fine and even prospered without it for over a hundred years. And the people only accepted it initially because they were told it would only affect the very rich.
I think the country would be a lot better off if the government had a lot less money to play around with.
Back when there was no income tax the US never had a deficit and the US economy was the strongest in the world.
The country survived just fine and even prospered without it for over a hundred years. And the people only accepted it initially because they were told it would only affect the very rich.
I think the country would be a lot better off if the government had a lot less money to play around with.
Back when there was no income tax the US never had a deficit and the US economy was the strongest in the world.
So would I be correct in saying that you would be able to tolerate living in those prior times given what you are accustomed to today?
The evolution of civilised cultures is intrinsically linked with the evolution of social infrastructure, and the means to support this must be provided from somewhere. The simple fact that you and I can read and write is a credit to what I am saying.
Whilst back then there may of been less tax, that is not to say the government did not direct the economy in a drastic fashion; consider the protectionism of the Founding Fathers as well as Lincoln, in this sense only elements of the Tea Party(absolutely not the neo-cons)may lay claim to their legacy.
It is better to view the state as a necessary evil rather than something to be paranoid over. Read the 17th century masterpiece Leviathan by Thomas Hobbes if you wish to dispel many of the partisan myths espoused today.
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WhatUwish4: Not only hiring legions of unnecessary bureaucrats, but also deliberately keeping poor people poor with free handouts of tax dollars to ensure their vote.
Even I could not argue with this.
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Romney is not a stupid guy and to "not" use what is there in the tax code to pay the "least" tax possible would be stupid. In fact every tax attorney worth their salt tells you the tax codes are there to the least tax possible. We don't "more" than the codes call for. do we?
Do you pay "more" tax than the codes say "you" owe?
Or;
Do you use every deduction you can to pay the least tax you can?
The IRS goes after tax cheats, is the IRS going after Romney?
If not then he did everything in the codes to"legally" pay the least tax as the codes themselves say you should.
Do you pay "more" tax than the codes say "you" owe?
Or;
Do you use every deduction you can to pay the least tax you can?
The IRS goes after tax cheats, is the IRS going after Romney?
If not then he did everything in the codes to"legally" pay the least tax as the codes themselves say you should.
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Rumple4skin: Even I could not argue with this.
I'm sure someone will though.
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What a goddamn hypocrite this guy is! This guy is just about as phony as they come.
Big businesses “know how to find ways to get through the tax code, save money by putting various things in the places where there are low-tax havens around the world for their businesses,” Romney said last night at a fundraising event in Minnetonka Beach, Minnesota. “But small business is getting crushed.”
“Big business is doing fine in many places,” he said. “I’m going to champion small business.”
Sure you are.
Romney’s comments called to mind remarks by President Barack Obama when he said June 8 that “the private sector is doing fine.” Republicans criticized Obama for being out of touch with the difficulty the economy is having recovering from recession.
Even before his comments last night, Romney’s campaign faced a fresh challenge presented by Gawker’s disclosure of the Bain documents. Romney, who has said he paid a tax rate of at least 13 percent over the past decade, also has balked at releasing more than two years of federal tax returns and Democrats have been questioning his refusal to provide the information.
Hey douchbag, I paid 25 percent
The newly released Bain records show that Romney took advantage of investments with the firm that achieved a low tax rate, for example, by engaging in what are known as management- fee conversions or fee waivers.
Bain Capital Fund VII LP disclosed in a 2009 report that the general partner in the fund had in the past waived management fees and converted those fees into an interest in the fund called a “priority profit share.” That had the effect of turning fees that would be taxed at ordinary income rates, as high as 35 percent, into capital gains, taxed at a rate of 15 percent.
Alex Stanton, a Bain spokesman, released a statement that said: “The unauthorized disclosure of a number of confidential fund financial statements is unfortunate. Our fund financials are routinely prepared by auditors and demonstrate a commitment to transparency with our investors and regulators, and compliance with all laws.”
Did that guy Alex Stanton actually use the word transparency?
And there are millions of brain washed people in this country who actually want this thief to become President of the United States.
I wonder how much the GOP & superpacs are paying, out of work people these days, to come into social networking sites like CS and 1000's of other sites to pump this faker? Do they pay by the post or by the hour or by the number of responses they get? I guess when people need to put food on the table they'll get into bed with anybody.